Neeru Jain, New Delhi V. Addl. CIT, New Delhi

ITA 2974/DEL/2011

• Counselvise Citation: 297420114 RSA 2011
• Duration Of Justice: 10 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-04-2012
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 10-04-2012
• Assessment Year: 2006-2007
• Appeal Filed On: 06-06-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R S NEGI SENIOR
• Keywords: Business income; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH E : NEW DELHI) SHRI RAJPAL YADAV, JUDICIAL MEMBER AND BEFORE SHRI B.C. MEENA, ACCOUNTANT MEMBER ITA NO.2974/DEL./2011 (ASSESSMENT YEAR : 2006-07) MS. NEERU JAIN, VS. ADDL. CIT, RANGE 27, B 78/79, MAYAPURI INDL. AREA I, NEW DELHI. NEW DELHI 110 027. (PAN : AAGPJ1934J) (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI K.V.S.R. KRISHNA, CA REVENUE BY : SHRI R.S. NEGI, SENIOR DR ORDER PER B.C. MEENA, ACCOUNTANT MEMBER : THIS APPEAL FILED BY THE ASSESSEE EMANATES FROM THE ORDER OF CIT (APPEALS)-XXIV, NEW DELHI DATED 22.3.2011 FOR THE A SSESSMENT YEAR 2006- 07. THE GROUNDS OF APPEAL READ AS UNDER :- 1. THE ORDER OF A.O. IS BAD IN LAW AND AGAINST FAC TS OF THE CASE. 2. THE CIT (A) XXIV NEW DELHI HAS ALSO ERRED IN UPH OLDING THE TREATMENT ASSUMED BY A.O. OF STCG ON SALE OF SH ARES AS BUSINESS INCOME WHICH IT IS PRAYED BE TREATED AS ST CG AND TAXED ACCORDINGLY. 3. THE APPELLANT RESERVES IT RIGHT TO ADD/ DELETE/ AMEND ETC. ANY GROUNDS OF APPEAL WRITTEN ABOVE. ITA NO.2974/DEL./2011 2 2. AT THE OUTSET, LEARNED AR SUBMITTED THAT THEY MA DE A REQUEST VIDE LETTER DATED 10.04.2012 FOR WITHDRAWAL OF THE APPEAL AS TH E TAX EFFECT INVOLVED IN THE ABOVE APPEAL IS LESS, THEREFORE, THEY DO NOT WANT T O PURSUE THE SAME AND THE APPEAL MAY KINDLY BE TREATED AS WITHDRAWN. ACCORDI NGLY, WE DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN. ORDER PRONOUNCED IN OPEN COURT ON THIS 10 TH DAY OF APRIL, 2012 AFTER CONCLUSION OF THE HEARING. SD/- SD/- (RAJPAL YADAV) (B.C. MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : THE 10 TH DAY OF APRIL, 2012 TS COPY FORWARDED TO: 1.APPELLANT 2.RESPONDENT 3.CIT 4.CIT(A)-XXIV, NEW DELHI. 5.CIT(ITAT), NEW DELHI. AR, ITAT NEW DELHI.